| Schedule of Accumulated Other Comprehensive Income (Loss) |
The following table presents the components of accumulated other comprehensive income (loss), net of tax, as of December 31, 2018 and 2017:
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December 31, |
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2018 |
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2017 |
Amortization and unrealized gains (losses) on pension and postretirement plans, net of tax of ($2,362) and ($4,761) |
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$ |
(546 |
) |
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$ |
7,412 |
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Net changes in fair values of derivatives, net of tax of ($474) and ($584) |
|
637 |
|
|
967 |
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Foreign currency translation adjustments, net of tax of $5,154 and $790 |
|
(39,195 |
) |
|
(4,068 |
) |
Accumulated other comprehensive income (loss) |
|
$ |
(39,104 |
) |
|
$ |
4,311 |
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The following table presents the tax effects of each component of other comprehensive income (loss) for the years ended December 31, 2018, 2017 and 2016:
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Years ended
December 31, |
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2018 |
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2017 |
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2016 |
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Pre-tax amount |
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Tax benefit/
(expense)
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After-tax amount |
|
Pre-tax amount |
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Tax benefit/
(expense)
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After-tax amount |
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Pre-tax amount |
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Tax benefit/
(expense)
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After-tax amount |
Defined benefit and other postretirement plans: |
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Amortization and unrealized gains (losses) |
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$ |
(10,357 |
) |
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$ |
2,399 |
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$ |
(7,958 |
) |
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$ |
(139 |
) |
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$ |
38 |
|
|
$ |
(101 |
) |
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$ |
11,664 |
|
|
$ |
(4,799 |
) |
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$ |
6,865 |
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Benefit plans, net |
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(10,357 |
) |
|
2,399 |
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(7,958 |
) |
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(139 |
) |
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38 |
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(101 |
) |
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11,664 |
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(4,799 |
) |
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6,865 |
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Net gain (loss) from hedging activities |
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(441 |
) |
|
110 |
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(331 |
) |
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(5,799 |
) |
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2,209 |
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(3,590 |
) |
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7,350 |
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(2,793 |
) |
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4,557 |
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Foreign currency translation |
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(39,419 |
) |
|
4,364 |
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(35,055 |
) |
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66,438 |
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(5,837 |
) |
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60,601 |
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(73,461 |
) |
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6,627 |
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(66,834 |
) |
Other comprehensive income (loss) |
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$ |
(50,217 |
) |
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$ |
6,873 |
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$ |
(43,344 |
) |
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$ |
60,500 |
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$ |
(3,590 |
) |
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$ |
56,910 |
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$ |
(54,447 |
) |
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$ |
(965 |
) |
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$ |
(55,412 |
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The following table presents the change in accumulated other comprehensive income (loss), net of tax, by component for the years ended December 31, 2018 and 2017:
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Defined benefit
and other
postretirement
plans |
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Net gain (loss) from hedging activities |
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Foreign
currency
translation |
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Total |
December 31, 2016 |
$ |
7,513 |
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$ |
4,557 |
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$ |
(65,781 |
) |
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$ |
(53,711 |
) |
Other comprehensive income (loss) before reclassifications |
6 |
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(3,797) |
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|
61,713 |
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|
57,922 |
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Amounts reclassified from accumulated other comprehensive income (loss)(1)
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(107) |
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|
207 |
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— |
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|
100 |
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Net current period other comprehensive income (loss) |
(101) |
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(3,590) |
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61,713 |
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|
58,022 |
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December 31, 2017 |
$ |
7,412 |
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$ |
967 |
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$ |
(4,068 |
) |
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$ |
4,311 |
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Other comprehensive loss before reclassifications |
(7,874) |
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|
(257) |
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(35,127) |
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(43,258) |
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Amounts reclassified from accumulated other comprehensive income (loss)(1)
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(84) |
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(73) |
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— |
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(157) |
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Net current period other comprehensive loss |
(7,958) |
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|
(330) |
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(35,127) |
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(43,415) |
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December 31, 2018 |
(546) |
|
637 |
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(39,195) |
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(39,104) |
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(1) |
See the following table for details about these reclassifications. Amounts in parentheses indicate credits to profit/loss. |
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